EMGS Extends Charter Period for Atlantic Guardian

Electromagnetic Geoservices ASA (EMGS) has entered into an agreement with North Sea Shipping to extend the charter hire period for the vessel Atlantic Guardian from 1 September 2013 to 1 March 2014.

Furthermore, EMGS has agreed to charter the vessel for an additional period of at least two years, with three optional one-year extensions.

Under the terms of the agreement, the vessel owner will conduct upgrades which will provide significantly improved fuel efficiency and station-keeping capabilities. It is expected that this work will be done during a five-week yard stay in the first or second quarter of 2014. At the same time, modifications will be made to the vessel to accommodate EMGS’s next-generation equipment.

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Press Release, May 22, 2013